European Open: DAX sits at key support ahead of the German IFO report
We’re watching how the DAX holds up for today’s IFO report – given it saw ‘no signs of a recession’ in May and markets now fear a global recession.
European Open: Volatile trade for yen pairs, PMI’s up next
The Japanese yen was broadly higher overnight on comments from a former FX and a report showing foreign investors fled the bond market last week.
The Fed’s mention of a recession weighs on oil prices
With global growth downwardly revised and the Fed being more open of a recession, lower oil prices and its impact on inflation expectations is a key theme to watch.
European Open: Sentiment falters ahead of the open
US futures and Asian indices partially handed back some of yesterday’s gains and oil touched a 1-month low as yesterday’s optimism shows early signs of petering out.
The S&P 500 may have bounced, but the backdrop remains bleak
The S&P 500 rallied as a retracement gets underway. But that doesn’t change the fact that the bigger picture remains bleak for the bull camp further out.
European Open: US traders return, FTSE and DJI in focus
US traders are to return to their desks today after a 3-day weekend. And the biggest question we have is whether we can see some sort of relief rally, after the recent drubbing.
European Open: DAX and German producer prices in focus
With the US on public holiday we could be in for a quieter session, although with sentiment remaining fragile then we see the potential for DAX to fall further.
Commitment of traders report (COT): DXY net-long hits 5-year high
Traders aggressively increased their net-long exposure to the US dollar index (DXY) ahead of last week’s FOMC meeting.
European Open: Volatile trade on the yen as the BOJ stand pat
There was some trepidation ahead of today’s BOJ meeting given the excitement of the FOMC and SNB this week, as evidenced by the yen’s volatile spike when the BOJ did nothing.
‘If’ the BOJ abandon YCC, hold onto your hats (USD/JPY)
The yen was stronger overnight as some began to speculate that the BOJ could alter (or abandon) their yield curve control target. We outline three potential scenarios.
European Open: GBP/CHF in focus for today’s SNB and BOE meetings
Hot on the heels of the Fed meeting, the SNB (Swiss National Bank) and BOE (Bank of England) are up next in today’s European session.